Here is how I come down on this. Facebook is not a social utility as much as their management would like us to believe, they are a commercial, for profit corporations which seeks to monetize the data we all contribute to their servers more or less willingly.
All you have to look at initiatives like BEACON and third party use of private picture posts in ads not to mention the ever changing privacy policies to remind us that their business model is dependent on the exposure of its users information to be used as they see fit.
One only has to look at the founder, Mark Zuckerberg and his attitude toward his early users. I do not believe they have changed and I think that Facebook executives have made a rather general assertion that “privacy is dead” as justification for the ever changing exposure of user data.